Although you might believe that you don’t have a significant amount of assets, every individual has an estate. Your estate is made up of everything you own, including life insurance personal possessions, savings and checking accounts, investments, real estate, your home, and your furniture.
To ensure that your wishes are carried out with the transfer of this property when you pass away, you need to outline instructions stating who you want to receive these materials. There’s also a good chance that you want this transfer process to happen with the minimal amount spent in legal fees, court costs, and taxes.
Whether you realize it or not, this is one of the primary purposes of meeting with a New Jersey estate planning attorney – to help make a plan in advance and name which individuals you would like to receive assets after you pass away.
Many Americans who are not aware of the benefits of estate planning choose to avoid it altogether, creating legal confusion or even disagreements between their loved ones after they pass away. You can help make things easier for your beneficiaries by setting up a meeting with a New Jersey estate planning attorney today.